In Parliament, on Tuesday 13 July, following a question from Hon. Uteem, Dr. Padayachy informed the House that a total amount of Rs. million has been disbursed over the last three years to promote Mauritius as an International Financial Centre (IFC). According to Hon. Uteem this is not enough to preserve Mauritius’ reputation against repeated attacks from foreign media.
The Economic Development Board has spent a total of Rs. 22 million to promote the Mauritius International Financial Centre since 2018. Globally, the Government of Mauritius through its various ministries/departments and parastatals have spent a total of Rs 33 million over the last three years in the promotion of Mauritius as an International Financial Centre. A significant share of the sum disbursed was invested in the sponsorship of promotional events held in various financial centers in the region such as Abu Dhabi, Dubai, Kigali and across larger markets such as Germany, India, South Africa and the United Kingdom.
Dr. Padayachy argued that the Government cannot sustain expensive promotional campaigns on its own and is in negotiation with the private sector to share the costs of the various expenses that have to be met to increase the visibility of the Mauritius International Financial Centre and what it has to offer to the world.
